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Trade agency taps into database for business adviceBy Son Ji-hyoung
Published : June 14, 2017 - 17:36
During a press conference to celebrate its 55th anniversary Wednesday, President Kim Jae-hong of the state-funded agency unveiled a plan to launch a website dubbed “Kotra Overseas Markets Big Bot,” which he said is expected to offer businesses practical advice.
“We have accumulated data on companies’ business expansion overseas for a long time,” Kim said at the conference in Seoul. “Now it’s time to analyze and make use of patterns from the data.”
The website will offer suggestions for improvements curated to the needs of each business entity. Using accumulated data, the website will assess the overseas business capacity of an entity and provide it with direct marketing strategies or ways to improve its business capacity. In addition, it will recommend the best export destination for goods.
The new online service will “buck the trend of unilateral provision of content” for local businesses, said Jung Oi-young, a senior official at KOTRA, at the press briefing.
Kim said during the press event that the agency will stay affiliated with the Ministry of Trade, Industry and Energy, instead of the newly established Ministry of Small and Medium Venture Business.
By Son Ji-hyoung (email@example.com)
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